Banking sector loses over Rs 910M in Bhotekoshi flash flood
Summary
The Bhotekoshi flash flood has caused an estimated loss of Rs 910.99 million to Nepal’s banking sector, damaging 17 branches of 12 banks in Nuwakot and Rasuwa. Recovery needs are projected at Rs 1.86 billion, with long-term restoration likely to take more than six months.
Key Points
- The Bhotekoshi flash flood caused a total estimated loss of Rs 910.99 million to the banking sector, including damaged assets and cash holdings.
- Seventeen bank branches across Nuwakot and Rasuwa were affected, with the heaviest asset damage recorded in Bidur and the most branches in Gosaikunda.
- The report estimates recovery needs at Rs 1.86 billion and says restoration may take longer than six months.
- Recommended recovery steps include assessing branch and ATM functionality, securing records, arranging temporary services, and repairing or replacing damaged premises and equipment.
